Qatar Petrol price again hiked

The Ministry of Energy and Industry has announced petrol prices for the month of July, prices have seen substantial increase since starting this year.

According to ministry, a liter of 91-octane premium petrol will cost QR1.30, increased from QR1.20. And Super 95-octane gasoline has increased from QR1.30 to QR1.40 per liter.

While the diesel prices will remain unchanged at QR1.40 per liter.

In January state owned Qatar Fuel hiked the prices by 30 to 35%. Petrol prices in Qatar are still among the most affordable in the world.

Increasing petrol price are reflecting changes in global oil market. Brent crude futures, the international benchmark, rose to above $50 a barrel this month on the back of a report from the International Energy Agency that demand will increase by 100,000 barrels per day to 1.3 million bpd this year as the supply glut eases.

However, oil prices fell sharply after the British voters opted to leave the European Union, with Brent ending the week at $48.41.